Sumitomo (OTCMKTS:SSUMY) Issues Earnings Results

Key Points

• Sumitomo beat expectations, reporting earnings of $1.02 per share vs. estimates of $0.90, with a net margin of 7.56% and a return on equity of 11.27%.
• Stock jumped $6.17 to $43.58 on Friday on above-average volume (111,178 vs. 100,249), and the shares trade within a one-year range of $24.00–$44.50; market capitalization is $52.07 billion with a PE of 14.15.
• Analyst sentiment has improved: Zacks upgraded Sumitomo from "strong sell" to "hold," and the stock's average rating on MarketBeat is currently "Buy" (one Strong Buy, one Hold).

Sumitomo (OTCMKTS:SSUMY - Get Free Report) announced its earnings results on Friday. The conglomerate reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.12, Zacks reports. Sumitomo had a net margin of 7.56% and a return on equity of 11.27%.

Sumitomo Stock Performance

Shares of Sumitomo stock traded up $6.17 on Friday, hitting $43.58. 111,178 shares of the company's stock were exchanged, compared to its average volume of 100,249. Sumitomo has a 1 year low of $24.00 and a 1 year high of $44.50. The company has a 50-day simple moving average of $37.81 and a 200-day simple moving average of $35.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market capitalization of $52.07 billion, a PE ratio of 14.15, a PEG ratio of 1.18 and a beta of 0.53.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Sumitomo from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy".

About Sumitomo

Sumitomo Corporation OTCMKTS: SSUMY is a global integrated trading and investment company headquartered in Japan. As one of the country's major sogo shosha (general trading firms), Sumitomo operates a diversified business portfolio that spans trading, project development, equity investments and provision of services to industrial and consumer markets. The company acts as a commercial intermediary and strategic investor, linking producers, manufacturers and end users across international supply chains.

Sumitomo's business activities cover a wide range of sectors, including metal products and mining, transportation and construction systems, infrastructure and real estate, energy and chemical products, electronics and digital solutions, and consumer goods and food.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.